Altcoin Rise Predictions Begin to Emerge in 2024:
Big Analysts Are Preparing for a Bitcoin Super Bull Run
As the crypto bull run slows in the mid-Q2 of 2024, analysts are fighting panic selling (FUD) with super bullish altcoin predictions.
Prominent cryptocurrency account Altcoin Daily published a long list of predictions earlier this week, predicting Bitcoin (BTC) will reach $120,000, Ethereum (ETH) will reach $8,800, and Solana (SOL) will reach $720.
According to these predictions, Bitcoin will rise nearly 100% to $60,600, while Ethereum and Solana will rise 200% and 400%, respectively.
Another well-known cryptocurrency analyst, Deezy.eth, also shared his own predictions. He predicts that Cardano (ADA) will rise 13.25 times (1225%) from current levels, from $0.445 to $5.90.
He predicts that Ripple (XRP) will rise to $1.80 and Dogecoin (DOGE) will rise to $0.50. This would represent gains of 260% and 250%, respectively.
These extremely bullish altcoin predictions come at a time of increased fear, uncertainty, and doubt (FUD) in the cryptocurrency market.
In February-March, as Bitcoin reached all-time highs above $70,000, many altcoins and meme coins rose along with it.
However, the market saw a sharp correction due to a decline in interest in spot Bitcoin ETFs and macroeconomic headwinds.
While Bitcoin is down 17% from its March high of $74,000, many altcoins have fallen more severely: Solana is down 30%, XRP is down 32%, Dogecoin is down 37%, and Cardano is down 45%.
Historically, it is known that the post-halving BTC rally usually begins within 4-6 months. The April halving was not expected to trigger an immediate rally. The post-halving slump usually coincides with the summer seasonality of the cryptocurrency market and the consolidation process.
Therefore, a sudden rally should not be expected, but it is undeniable that we are in the middle of a new bull market.
However, 10x Research warns that unlocking tokens could hinder the rise of alternative coins if venture capital firms (VCs) exit.
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